Latest Ratios: P/E Ratio 15.6x · EV/EBITDA 12.0x · ROE 12.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $1.4B | $1.2B | $958M | $1.1B | $1.0B | $878M | $920M | $649M | $810M | $785M |
| Enterprise Value | $1.9B | $1.6B | $1.3B | $1.1B | $1.2B | $1.1B | $1.0B | $1.2B | $961M | $1.0B | $995M |
| P/E Ratio → | 15.58 | 12.80 | 14.21 | 11.14 | 13.42 | 12.30 | 14.14 | 15.55 | 13.95 | 19.96 | 22.34 |
| P/S Ratio | 3.67 | 2.96 | 3.78 | 3.02 | 3.95 | 4.50 | 3.84 | 4.14 | 3.80 | 5.67 | 5.80 |
| P/B Ratio | 1.51 | 1.24 | 1.67 | 1.44 | 1.97 | 1.55 | 1.41 | 1.60 | 1.42 | 2.22 | 2.38 |
| P/FCF | 11.63 | 9.36 | 13.15 | 9.44 | 10.76 | 10.76 | 10.29 | 16.47 | 13.77 | 18.54 | 21.41 |
| P/OCF | 11.24 | 9.05 | 12.46 | 8.93 | 9.99 | 10.26 | 9.50 | 14.10 | 10.42 | 14.76 | 18.74 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.19 | 4.23 | 3.38 | 4.41 | 4.95 | 4.43 | 5.44 | 5.63 | 7.26 | 7.35 |
| EV / EBITDA | 11.97 | 9.78 | 11.76 | 9.47 | 11.23 | 10.21 | 12.00 | 15.12 | 15.44 | 18.24 | 18.62 |
| EV / EBIT | 13.57 | 11.08 | 12.81 | 10.35 | 12.37 | 11.08 | 13.51 | 16.95 | 17.15 | 19.88 | 20.25 |
| EV / FCF | — | 10.08 | 14.70 | 10.57 | 12.01 | 11.84 | 11.87 | 21.62 | 20.39 | 23.75 | 27.12 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.2% | 70.2% | 67.3% | 78.3% | 91.1% | 98.7% | 84.0% | 83.5% | 87.6% | 91.0% | 92.9% |
| Operating Margin | 28.7% | 28.7% | 33.0% | 32.7% | 35.7% | 44.7% | 32.8% | 32.1% | 32.8% | 36.5% | 36.3% |
| Net Profit Margin | 23.1% | 23.1% | 26.6% | 27.1% | 29.4% | 36.6% | 27.2% | 26.7% | 27.2% | 28.5% | 26.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.0% | 12.0% | 12.2% | 14.1% | 13.3% | 13.0% | 10.4% | 11.5% | 11.3% | 11.7% | 12.1% |
| ROA | 1.5% | 1.5% | 1.3% | 1.4% | 1.4% | 1.6% | 1.3% | 1.4% | 1.3% | 1.3% | 1.3% |
| ROIC | 9.3% | 9.3% | 8.8% | 9.6% | 9.4% | 9.4% | 6.5% | 6.1% | 5.7% | 6.4% | 6.6% |
| ROCE | 12.4% | 12.4% | 11.9% | 13.9% | 14.0% | 13.5% | 9.9% | 10.6% | 10.3% | 10.9% | 12.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.29 | 0.29 | 0.36 | 0.23 | 0.31 | 0.61 | 0.82 | 0.75 | 0.78 |
| Debt / EBITDA | 1.15 | 1.15 | 1.85 | 1.71 | 1.86 | 1.36 | 2.30 | 4.38 | 6.05 | 4.84 | 4.83 |
| Net Debt / Equity | — | 0.10 | 0.20 | 0.17 | 0.23 | 0.16 | 0.22 | 0.50 | 0.68 | 0.63 | 0.63 |
| Net Debt / EBITDA | 0.70 | 0.70 | 1.24 | 1.01 | 1.17 | 0.93 | 1.60 | 3.60 | 5.01 | 4.01 | 3.92 |
| Debt / FCF | — | 0.72 | 1.55 | 1.13 | 1.25 | 1.08 | 1.59 | 5.15 | 6.61 | 5.22 | 5.72 |
| Interest Coverage | 1.11 | 1.11 | 1.04 | 1.57 | 5.41 | 10.76 | 3.92 | 2.28 | 2.93 | 4.69 | 5.81 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.18 | 0.18 | 0.21 | 0.32 | 0.36 | 0.41 | 0.31 | 0.26 | 0.27 | 0.31 | 0.31 |
| Quick Ratio | 0.18 | 0.18 | 0.21 | 0.32 | 0.36 | 0.41 | 0.31 | 0.26 | 0.27 | 0.31 | 0.31 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 | 0.05 | 0.04 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 3.0% | 2.7% | 3.1% | 2.5% | 2.1% | 2.3% | 1.9% | 2.2% | 1.5% | 1.4% |
| Payout Ratio | 38.4% | 38.4% | 38.0% | 34.3% | 33.0% | 26.4% | 32.4% | 29.6% | 30.2% | 29.1% | 30.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 7.8% | 7.0% | 9.0% | 7.5% | 8.1% | 7.1% | 6.4% | 7.2% | 5.0% | 4.5% |
| FCF Yield | 8.6% | 10.7% | 7.6% | 10.6% | 9.3% | 9.3% | 9.7% | 6.1% | 7.3% | 5.4% | 4.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.5% | 3.0% | 2.7% | 3.1% | 2.5% | 2.1% | 2.3% | 1.9% | 2.2% | 1.5% | 1.4% |
| Shares Outstanding | — | $37M | $30M | $30M | $29M | $27M | $27M | $26M | $23M | $23M | $22M |
Geographic concentration and integration
With a P/B ratio of 1.51, GABC trades at a notable premium to regional peers like Fulton Financial, suggesting that investors assign significant value to the bank's diversified fee-based income streams and its entrenched, low-cost deposit base within its core Indiana and Kentucky markets.
The current valuation appears to price GABC as a premium franchise rather than a commodity lender, likely reflecting the market's confidence in the stability provided by its insurance and wealth management segments. However, the elevated P/B multiple warrants caution, as it implies high expectations for future ROTCE expansion that may be difficult to sustain if regional economic growth slows.
According to quarterly financial data, GABC's ROE has remained in a tight 2.8% to 3.6% range over the last two years, indicating that the bank's profitability is structurally supported by its non-interest income contribution rather than aggressive leverage or volatile interest rate spreads.
The DuPont decomposition suggests that GABC's profitability is driven by a balanced mix of core banking and fee-based services, which helps insulate the bottom line from interest rate cycles. While the ROE appears modest, the consistency of these returns suggests a high-quality earnings profile that is less reliant on the balance sheet expansion seen in more aggressive regional competitors.
As reported in recent filings, GABC has maintained an efficiency ratio consistently between 39% and 43%, demonstrating that the bank is successfully managing its overhead costs while integrating new acquisitions into its existing hub-and-spoke operational framework across its Indiana and Kentucky footprint.
The bank's ability to keep the efficiency ratio stable despite the integration of Citizens Union Bancorp suggests strong operational discipline. Investors should monitor whether this efficiency can be maintained as the bank enters more competitive urban markets, where the cost of talent and technology may exert upward pressure on non-interest expenses.
The P/E ratio is frequently misapplied to GABC, as it fails to account for the lumpy nature of provision for credit losses and the non-recurring impact of insurance contingency commissions, which can significantly distort quarterly earnings and lead to inaccurate assessments of the bank's core profitability.
Analysts should prioritize P/TBV and normalized ROE over P/E to better capture the underlying value of the bank's franchise. Relying on P/E risks misinterpreting temporary spikes in provisioning or one-time fee income as permanent shifts in the bank's earnings power, potentially leading to flawed valuation conclusions.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GABC stock.
German American Bancorp, Inc.'s current P/E ratio is 15.6x. The historical average is 18.5x. This places it at the 63th percentile of its historical range.
German American Bancorp, Inc.'s current EV/EBITDA is 12.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
German American Bancorp, Inc.'s return on equity (ROE) is 12.0%. The historical average is 11.6%.
Based on historical data, German American Bancorp, Inc. is trading at a P/E of 15.6x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
German American Bancorp, Inc.'s current dividend yield is 2.47% with a payout ratio of 38.4%.
German American Bancorp, Inc. has 70.2% gross margin and 28.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
German American Bancorp, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.